retirement plan mismanagement

To safeguard employees’ 401(k) and 403(b) retirement plan accounts, Congress passed the Employee Retirement Income Security Act of 1974, or ERISA.  The Act imposes strict fiduciary duties of loyalty and prudence on employers and other plan fiduciaries.  

ERISA requires employees’ 401(k) and 403(b) retirement plan accounts be handled with utmost prudence and care.  

Unfortunately, that’s not always the case.  We're often asked "Are my 401(k) fees too high? Am I paying too much for my 401(k) account to be managed?What are reasonable recordkeepoing fees? What about a lack of low cost  investment choices?"  

• overpriced and underperforming funds are offered, instead of substantially similar less expensive and better performing funds; 
• lack of diversified investment choices;  
• lack of investment choices at the lowest costs;
•  excessive management and recordkeeping fees;
• forfeited funds are diverted to plan sponsors when they should be used for the benefit of plan participants;
• fees charged to employees when they should be paid by employers;
• unreasonable kickbacks to employers and plan sponsors.

Together with our co-counsel, we've represented thousands of employees nationwide in their pursuit of Justice and Accountability.  

Contact us to find out if you qualify.